FB Financial (NYSE:FBK) Lifted to Outperform at Hovde Group

FB Financial (NYSE:FBK) was upgraded by equities research analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a note issued to investors on Tuesday, Briefing.com reports. The firm presently has a $40.50 price target on the financial services provider’s stock, up from their previous price target of $40.00. Hovde Group’s price objective suggests a potential upside of 13.80% from the company’s current price.

A number of other equities analysts have also recently issued reports on FBK. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Stephens cut their target price on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.67.

FB Financial Stock Up 2.8 %

Shares of FBK stock traded up $0.96 on Tuesday, reaching $35.59. 234,162 shares of the stock were exchanged, compared to its average volume of 128,592. The stock has a market cap of $1.67 billion, a P/E ratio of 13.72 and a beta of 1.15. The firm has a 50 day moving average of $35.96 and a two-hundred day moving average of $35.06. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. The firm had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. During the same period in the prior year, the firm earned $0.85 EPS. On average, equities research analysts predict that FB Financial will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were acquired at an average price of $35.29 per share, with a total value of $70,580.00. Following the completion of the purchase, the insider now directly owns 10,877,841 shares in the company, valued at approximately $383,879,008.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $35.91 per share, with a total value of $107,730.00. Following the completion of the purchase, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were bought at an average cost of $35.29 per share, with a total value of $70,580.00. Following the transaction, the insider now directly owns 10,877,841 shares of the company’s stock, valued at $383,879,008.89. The disclosure for this purchase can be found here. Insiders have bought 9,000 shares of company stock worth $327,410 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its stake in FB Financial by 570.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 833 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of FB Financial during the 3rd quarter worth about $31,000. GAMMA Investing LLC acquired a new stake in shares of FB Financial during the 4th quarter worth about $43,000. Point72 Middle East FZE increased its position in FB Financial by 111.6% during the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 876 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in FB Financial during the third quarter worth about $71,000. Institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.